Mon, Dec 5, 2022
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

FundRock Management Company acquires SEB Fund Services

Friday, November 16, 2018
Opalesque Industry Update - FundRock Management Company S.A. has completed the acquisition of SEB Fund Services S.A. from Skandinaviska Enskilda Banken AB. The deal was first announced on May 22nd and concludes following regulatory approval of the Commission de Surveillance du Secteur Financier.

SEB FS is offering third party management company services to Nordic asset managers with Luxembourg-based investment funds. The business in its entirety, including some 20 employees, is as of today transferred to FundRock.

"This move is part of our five year plan and provides a strong foundation to reach our goal of becoming the premier independent Fund Management Company/AIFM in Europe with a full pan-EU offering in the three major fund centres; UK, Ireland and Luxembourg", says Revel Wood, Group CEO of FundRock.

"Clients and their end investors are core and central to our business, and expect more and more from us as their long-term partner in Europe. This further enhances our ability to offer our clients a substantial, well-capitalised solution with deep and broad expertise in all the major European fund jurisdictions, packaged into a robust offering with strong connectivity, now also reaching into the Nordic markets. It further demonstrates our long-term commitment to invest in Fund Management as our core business offering clients solutions across their full fund range." he added.

FundRock is a leading independent third party UCITS Management Company and AIFM (Alternative Investment fund Manager) providing services to Luxembourg, Ireland and UK based funds. The group handles more than 300 funds based in Luxembourg, the UK and Ireland with EUR 45 bn in assets under management, now extending to EUR 60bn with this acquisition.

"We will continue to offer management company services via an exclusive cooperation agreement with FundRock thereby strengthening SEB's customer offering," says Göran Fors, Deputy Head of SEB Investor Services.

"It will also be a good solution for our employees, who are now joining an operation of large scale with offices in the major fund centres that is fully specialised and focused in this service area", continues Göran Fors.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Marks delves into what really matters[more]

    B. G., Opalesque Geneva: Howard Marks, co-founder and co-chairman of Oaktree Capital Management, weighs what should and should not matter for investors in his latest memo last week. Among the things t

  2. Legal: British fund manager Jeremy Leach and his firms settle fraud litigation for $11.5m, DOL slams lawsuit seeking to overturn crypto guidance[more]

    British fund manager Jeremy Leach and his firms settle fraud litigation for $11.5m From Offshore Alert: Four days before a trial was due to start in the Cayman Islands, British fund manager Jeremy Leach and eight of his firms settled a fraud complaint by agreeing to pay $11.5 million o

  3. Family offices upbeat on private assets, reduce public assets exposure[more]

    Laxman Pai, Opalesque Asia: Family offices are investing more in private assets and cutting back on investments in public markets, with higher risk-adjusted returns cited as the main driver, said a study. According to the survey findings by German digital private equity firm Moonfare, and the

  4. Opalesque Exclusive: A Swiss managed futures strategy that can offer diversification to any portfolio[more]

    B. G., Opalesque Geneva for New Managers: TARO (R) Diversified is a Swiss algorithmic and systematic investment strategy that offers diversification benefits to almost any professionally managed portfolio through it

  5. Alts manager Medalist Partners acquires a minority stake in Semper Capital to tap opportunities in structured credit[more]

    Laxman Pai, Opalesque Asia: Medalist Partners, which specializes in private credit, has acquired a minority stake in Semper Capital to extend its offerings to the mass market. Medalist currently manages approximately $2.2 billion in assets across strategies in asset-based private credit, struc